A bill that will penalize China for allegedly manipulating its currency to gain a trade advantage is headed for a vote in the U.S. Senate Tuesday, adding pressure on China to appreciate the yuan. China opposes the bill and warns of a trade war if the bill is passed. "Should the proposed legislation be made into law, the result would be a trade war and that would be a lose-lose situation for both sides," said Vice Foreign Minister Cui Tiankai. "It would be detrimental to the development of economic ties and might have an adverse impact on bilateral relations." Vice Minister Cui spoke in a press briefing one day ... (full story)